Welcome to the latest financial update from the Administration of the Patrimony of the Apostolic See (APSA), where we dive into the numbers and strategies that have shaped the organization’s success in 2023.
Presenting a fascinating look into the world of managing the assets of the Vatican, APSA’s 2023 balance sheet reveals a profit of 45.9 million euros. What’s even more impressive is the fact that APSA contributed 37.9 million euros to the Pope’s mission, supporting the Roman Curia, while also increasing its assets by 7.9 million euros.
Archbishop Giordano Piccinotti, president of APSA, explains the dedication and careful planning behind these results, emphasizing the importance of increasing income streams without compromising the Holy See’s assets or resorting to selling institutional buildings.
The Art of Asset Management
APSA’s success can be attributed to its meticulous management of movable and immovable assets. By focusing on non-speculative, low-risk investments with proven social impact goals, APSA has navigated the financial landscape with a steady hand aligned with the Social Doctrine of the Church.
Through international securities, fixed-income securities, and other financial assets, APSA has provided financial solutions and guidance to various entities of the Holy See, all while adhering to the Investment Committee’s mandate of optimizing returns while mitigating risks.
Balancing Real Estate Ventures
Managing over five thousand real estate units both in Italy and abroad, APSA has shown a surplus of 35 million euros in real estate management, with notable operating revenues of 73.6 million euros. By embracing technological advancements and strategic partnerships, APSA is dedicated to enhancing the efficiency of its real estate operations for optimal results.
With a vision for the future, Archbishop Piccinotti highlights APSA’s commitment to ongoing improvement initiatives that align with the ethical values of the Church. From modernizing the real estate management program to implementing new regulations and systems, APSA is poised for continued success in managing the assets of other Holy See entities.
As APSA charts its course for the future, we anticipate even greater achievements in the realm of financial stewardship and asset management, setting the stage for a prosperous and impactful journey ahead.
Stay tuned for more updates on APSA’s financial endeavors and the incredible impact it continues to make on the Pope’s mission and the broader Vatican community.
